I have a fund seeking to make section 8 investments on 4 or fewer unit properties in landlord and tax friendly states such as Nevada, Florida, South Dakota, Utah, and Tennessee. 

@Ken M.Maryland has similar laws.

If you're not familiar with the scam I'm talking about, it's this one and it's super common right now: https://www.nar.realtor/magazine/real-estate-news/law-and-et...Here are some other threads about it on here:https://www.biggerpockets.com/forums/311/topics/1096347-sell...https://www.biggerpockets.com/forums/530/topics/1124674-bewa...Apparently these scammers are having some success.

My question is what is the best way to set up out LLC, and should we be taxed as an S-Corp? 

I had a short term rental but NY laws put an end to that.

You will learn about property management, taxes. contract law, and people management. 

It helps to have started when $15k got you $700/mo in rent.haha,Love you to mate.If James was "over sexed" he would have less of an "urge" to bombard us with so many key-words.I hate to love him 😘10+ years ago we got 1 Toledo keyword every other week.Not it's almost 10 per day.Happy for Toledo and always has a special place in my heart.Yeah mate, those $15,000 deals are just a dream now but we had a 10+ year run so can't complain.Cheers to another 10 years and keep being great 🙏 I'm still buying, hell I am still filing tax value appeals so they are below the friggin value there. 

I then have my Chase Business Account linked to Stessa so it will import the payments and still run all the features that I like (Tracking Rental Income, P/L statements, Tax form simple print outs) because it will sync with my Chase Business account.Would love some advice from previous owners and users of Stessa.

Private lending is passive but in terms of taxes "ordinary income" and you cannot cancel out with passive losses that you get when you are an equity holder of real estate. 

Hi Roland, My go to is Ken Luther Law.